REBgold (CVE:RBG) has confirmed a new high grade gold discovery at the Rantasalmi gold property, in Finland.
Rantasalmi is a joint venture between REBgold and Belvedere Resources (CVE:BEL).
has revealed that a recently completed drill programme at the
Osikonmäki East prospect’s Upper East HW zone has confirmed the initial
find, announced last year.
Drilling has continued to develop and
extend the Upper East HW zone, it said. And one drill hole in
particular, tagged BELOSI 081, was mineralised for almost its entire 205
metre length, it added.
This zone is now considered by Belvedere to be a significant new discovery.
every intersection into the new discovery yielding greater than 100
gram metres of gold the new zone confirms the potential to rapidly build
on the current resource at Osikonmäki East,” said Belvedere chief
executive David Pym.
“It's position in the hanging wall to the main shear zone, which hosts the bulk of the mineralisation at Osikonmäki East adds
substantially to the potential on the prospect.”
says BELOSI 081’s most significant intercept cut 18 metres at an
average grade of 5.7 grams per tonne gold, within a broader 35 metre
zone averaging 3.2 grams per tonne.
Additionally Belvedere said
it has identified the potential for a bulk tonnage target, with what
appears to be a zone of lower grade mineralisation adjacent to the
discovered high grade zone in the hanging wall.
Pym adds: “While
the Osikonmäki East prospect continues to grow, the company remains
excited about the overall potential of the Rantasalmi Property.
prospects such as Osikonmäki West and Pirilä areas have not been
re-evaluated since their discovery in the late 1980's and the
exploration potential for further discoveries appears significant with
several gold mineralised boulder trains yet to be traced to source on
Currently, the Osikonmaki East prospect has an
indicated resource estimate of 1.3 million tonnes grading 1.7 g/t gold,
for 68,000 contained ounces, and an inferred resource estimate of 3.5
million tonnes grading 2.09 g/t gold, for 244,000 ounces of contained
Belvedere has a portfolio of gold and base metal
exploration targets across Finland, which includes the Osikonmaki
deposit as well as the Kopsa gold-copper target located close to its
producing Hitura nickel mine.